Sono Group Takes Control of t’way Air After Share Purchase

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Sono International Co., Ltd. has officially taken control of South Korea’s low-cost carrier t’way Air after completing a final KRW25 billion (USD18.5 million) payment to acquire a 46.26% stake from YeaRimDang Publishing Co., Ltd. and three affiliated individuals. This transaction brings Sono’s total ownership in t’way Air to 54.79%, giving it majority control.

Regulatory filings confirm that YeaRimDang transferred 44.47 million shares (39.3%) to Sono International on June 24, 2025. Additional shares were sold by board members Na Sung Hoon (3.23%), Na Chun-ho (1.98%), and Hwang Jeong-hyeon (1.75%), finalizing a long-anticipated takeover.

Sono International, part of the Daemyung Sono Group—a major player in South Korea’s hotel and travel industry—first became t’way’s second-largest shareholder last year and has since pursued full control. The acquisition was delayed due to extended approval timelines from Korea’s Fair Trade Commission, but has now been cleared.

Daemyung Sono Group Chairman Seo Jun-hyuk has long expressed interest in entering the airline sector, citing strategic synergies between aviation and the group’s hospitality assets.

Coinciding with the share transfer, t’way Holdings convened an extraordinary shareholders’ meeting to appoint nine new directors, including independents. CEO Chung Hong-geun, who previously announced plans to step down, is expected to depart this week. His successor has not yet been named.

The move signals a new chapter for t’way Air under Sono’s leadership, with potential integration into broader travel and tourism offerings within the Daemyung Sono Group.

Related News: https://airguide.info/category/air-travel-business/airline-finance/

Sources: AirGuide Business airguide.info, bing.com, ch-aviation.com

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